Ask the Adviser: Why are Medicare Part B premiums going down when inflation is up?
After a large increase in Medicare Part B premiums for 2022, the cost is now dropping. We’ll look at a surprising reason why.
Ask the Adviser: What can I do to offset PA inheritance tax for my heirs?
Pennsylvania is one of only six states that requires inheritance tax. Here, we look at a variety of ways residents can reduce the tax on passed down assets.
5 Ways to Take Advantage of the Market Downturn
Look for opportunities created by lower markets, which include evaluating employer stock, performing Roth conversions, and investing before the market rebounds.
Ask the Adviser: What are the pros and cons of Series I savings bonds?
Series I savings bonds combine relatively high returns with minimal risks—as long as inflation remains elevated.
Five Common Mistakes When Taking Qualified Charitable Distributions From Your IRA
Making charitable gifts from your IRA instead of your checkbook can be an excellent tax management strategy. Doing so helps you to fulfill your required minimum distribution while reducing taxable income dollar for dollar.
More Ways to Lessen the Impact of the SECURE Act
Here, we offer further strategies for heirs of retirement accounts to maximize the after-tax value of their funds.
You Inherited an IRA under the SECURE Act—Now What?
Follow these strategies to design a distribution plan with tax efficiency in mind.
Should I Consult with a Financial Adviser?
An adviser can help you balance today’s wants with tomorrow’s needs. Here’s what to consider when deciding whether to partner with one.
You May Be Able to Reduce the Taxes from Inherited Assets
If you’re the beneficiary of retirement accounts or other inherited assets, it pays to learn about the IRD deduction.
Go On a Treasure Hunt: Claim Back Your Own Assets
You might have assets sitting at the Pennsylvania Treasury that belong to you. All you have to do is claim them.
You missed an RMD—now what?
The rules surrounding Required Minimum Distributions are complicated and missing them can be costly. If you have made an error, follow these steps to amend it and seek a penalty waiver
Beyond Financial Planning: Finding Vibrant Living in Retirement
Finding meaning and purpose after your career is a common concern. Here, we share ideas from “Vibrant Living,” a TV segment about developing a healthy, happy retirement.
Life Insurance in Retirement: Is it Necessary?
Determining whether you need life insurance in retirement can get complicated—and it depends on your unique situation. Let these questions guide you.
The Differences Between Estate and Inheritance Taxes
Estate tax is levied against someone’s estate upon death and is based on the size of the total estate. Inheritance tax is levied against the heirs of an estate.
The Importance of Reporting to Credit Agencies After Death
It is the responsibility of the surviving spouse or the estate’s executor to notify lenders on joint accounts, to close out accounts in the deceased’s name, and to notify the three major credit agencies.
Estate Planning Essentials Part 3: Protecting Beneficiaries from Themselves
Studies have shown that some heirs ultimately end up in worse financial shape after receiving an inheritance. This is so common that psychologists call it sudden wealth syndrome, although it is not an actual psychological diagnosis.
Estate Planning Essentials Part 2: Are Trusts Needed for Minor Beneficiaries?
Trusts can be an essential part of your plan—but they are often complex and time-consuming to set up.
Estate Planning Essentials Part 1: Take Time to Prepare the Heir
The mechanics of estate planning can be easy enough, but the big picture requires a lot of thought and soul searching.
Family Vacations as a Planning Tool
Passing on your story provides something deeper than wealth.
Financial Challenges of Losing a Spouse in Retirement
Widows and widowers whose spouses were younger than 72 at the time of death need to examine their options carefully before rolling over their spouse’s IRA.
